Deep-Tech Startup Fabits raises Pre-Seed round led by WMUIndia
By Gloria Mathias
Fabits, an Indian deep tech-enabled investment startup, has announced its pre-seed round led by WMUIndia, one of India’s wealth management firms that advises and serves primarily ultra-high net-worth individuals.
Fabits is looking to break the clutter in the FinTech space and target customers for financial planning and wealth management to create sustainable and personalised portfolios. The capital infusion will enhance Fabits’ deep tech model to make more accurate predictions and provide better investment strategies for customers.
The funds will also be used to expand its B2B initiatives in the mutual fund distribution industry and facilitate the core product’s technology, offerings, growth, and other strategic collaborations with key players.
Founded in 2022, financial planning FinTech startup Fabits provides financial goal-based offerings and recommendations in the evolving landscape of wealth management, making it accessible to the masses. Fabits is focused on B2B and strategic collaborations with key players in the space.
“We are very excited with the pre-seed funding from WMUIndia, as well as the expertise they bring in the space of wealth management. 70 percent of the funding received now will be used for building the core product and technology, while the other 30 per cent will go into marketing and customer acquisition via strategic partnerships with key players,” said Ajath Anjanappa, CEO and Co-Founder of Fabits. “With its goal-based approach, we understand and tailor investments to specific aspirations and ensure an effective and personalised financial strategy,” he added.
“Fabits’ deep-tech platform combines the best of traditional financial wisdom with modern technology. It has a hybrid model that is a perfect blend of the efficiency of digital platforms and guidance from experienced advisors in wealth management. We are excited to support Fabits in their journey towards fintech enhancements and strategic collaborations and look forward to the growth journey ahead,” said Jayaprakash Pai, Founder & CEO, Wealth Managers United (India) Pvt Ltd.
With investment strategies that are tailor-made to an individual’s unique and specific needs and goals, Fabits will make the path to financial freedom and wealth creation easy, effective, and accessible.
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